Use our UK Finance guide and learn by experience. We outline pitfalls so that you don't have to learn the hard way, as many of us often do.
Loans
Adverse Credit and Payday Loans
Most payday cash loan providers offer no credit check payday loans, meaning that even if you have an adverse credit record, county court judgements (CCJ’s) against your name, or are in any other sort of unfavourable financial predicament, you will still be able to raise finance through a no credit check payday loan application.
The reason why no credit check payday loans are offered is that a payday loan provider will typically accept a post-dated cheque from you or have you set up a payment order on your bank account so that, as soon as your next pay cheque reflects on your statement, your account will be debited for the full amount of your no credit check payday loan as well as any applicable interest charges. By doing this, an online payday loan provider is satisfied that their money will be repaid and as such are not particularly interested in your credit history. However, this does not mean that payday cash loan providers are at no risk of not receiving payment, in fact quite the opposite.
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